Will bitcoin be banned on Philippines?

[faceoff97]

Im also thinking about this, recently the mainstream media are reporting negative issues about bitcoin. Bitcoin related scams are getting more tangible, and tge government might see it actually as a threat. Bitcoin is niw starting to.be recognized by tge government and people should be oriented properly so that no ptoblem would exist. Since government is silent about this issue, there is no news reported about banning of it.

[gogrowglow]

I am a Filipino and right now as of today I have not heared or seen from news that the government wil banned Bitcoin  just because of the news last week regarding the couple scammer.  As to my understanding they used Bitcoin to convince people to invest (kind of like pyramiding) and because they cannot give back the promised earnings of the money invested on thier scheme many investors go to the police and or to the media. For fair judgement, government should take   deeper investigation and must have knowledge about Bitcoin to understand it to render adequete judgement and to correct the notion that Bitcoin is a scam. So far now news regarding this issue - banning of Bitcoin in the Philippines.free

[jakagintiri]

No one forbids crypto in the Philippines, the Philippines also declare not to close the crypto in the country but they will only eradicate scammers and criminals acting on behalf of Bitcoin, it is clear the innocent pure innocent man innocence as a useful object when in use properly but when used by the pure evil people's fault there is nothing wrong with Bitcoin, but is currently doing the eradication of deception rather than closure of Bitcoin.

[AniviaBtc]

I wish it can't happen. If it is, our life become incomplete. All us know that 30% of our income is from Bitcoin. But I've never heard that Bitcoin will be ban in the Philippines, so I hope it will not happen.

[crzy]

I wish it can't happen. If it is, our life become incomplete. All us know that 30% of our income is from Bitcoin. But I've never heard that Bitcoin will be ban in the Philippines, so I hope it will not happen.

Its possible but it will not happen because I know Philippine government will just regulate this thing on time so no more people will be a victim of a investment scheme. Let's support bitcoin because this is a great source of income for those who don't have a regular job.

[ronics]

I have been a member of bitcoin for a long time ago. Sometimes I did not hear the ban on the bitcoin in the Philippines because it is acceptable to bitcoin .the central bank of the country returns a standard regulation for bitcoin and the government of the Philippines a cryptocurrency is also acceptable to the philippines. There will be other countries banning bitcoin mostly because they violate the rules of bitcoin and yet another government does not accept a cryptocurrency in the country banned by bitcoin..so now open the the Philippines has a cryptocurrency in our country.

[bitcoin31]

I hooe it will not ban bitcoin in the philipoines. Because it's not mistakes of the bitcoin it's mistake of the couple who scammed people. Bitcoin is legit but other people use it to scammed people and that's not good to us because the people are scared to invest to bitcoin because of that happen. Bitcoin gives opportunity to us to earn money . I suggest to those people don't invest to the people try to invest to your own because you know what really happen to your money. I think the couple scammer said to the investor they get high profit with shortime only . There's no easy money as of now they need to spend longtime and effort. Don't trust anyone because we don't know what is the really begind of their mind.

[Hexah]

It's an obvious scam that they have huge ROI in just 15 days I guess it is on the part of the investors itself that they do risks their money to it. I guess it needs thorough consultation before we say "TOTAL BAN" on the use of Bitcoin or other cryptocurrency in the Philippines. The cryptocurrency use in the Philippines is healthy and I guess banning it will get negative effects since it has increased country's economy on the last year Bitcoin trend.

[FullMooon]

I think it really hard to banned the bitcoin in the Philippines, because first of all the government in the Philippines are much selfish and much in corruption. So that they make bitcoin passed in the Philippines. Also they passed through the bitcoin for the investors because bitcoin is the one of the most fast generating of money.

[Hypnosis00]

I have been a member of bitcoin for a long time ago. Sometimes I did not hear the ban on the bitcoin in the Philippines because it is acceptable to bitcoin .the central bank of the country returns a standard regulation for bitcoin and the government of the Philippines a cryptocurrency is also acceptable to the philippines. There will be other countries banning bitcoin mostly because they violate the rules of bitcoin and yet another government does not accept a cryptocurrency in the country banned by bitcoin..so now open the the Philippines has a cryptocurrency in our country.

Crypto is not actually that much visible in the Philippines, we have this own crypto but there are still Bitcoin users here. But it will be better if bitcoin is not banned because it is much reliable than the one made here. Bitcoin is bitcoin, and we trust bitcoin more than any cryptocurrency that may exist in the world. So don't ban bitcoin in the Philippines, it can help people to rise from poverty.

[Rufsilf]

Maybe, if the crypto made here is stronger than bitcoin then they might ban bitcoin because the one they made will become the main currency here. But it is not necessary for bitcoin to be banned because it is the most reliable crypto. Bitcoin should not be banned because it is a life changer, a lot of opportunity is made by bitcoin. And banning it will just destroy those opportunities.

[Bellator]

Over 900 Million  pesos worth of bitcoins been scammed.

Filipino couple amasses at least P900M in alleged Bitcoin scam.
MANILA, Philippines (UPDATED) – Police have nabbed a couple promising easy wealth through popular cryptocurrency Bitcoin, Philippine National Police (PNP) chief Director General Ronald dela Rosa announced on Tuesday, April 10.
Arnel and Leonady Ordonio were nabbed by PNP Criminal Investigation and Detection Group (CIDG) operatives – the police division in charge of high-stakes and high-profile crimes – in Vigan City last April 4 through an entrapment operation.

The scam, Obusan said, is structured like a pyramid scheme but with electronic money.

The Ordonios apparently had middlemen who lured people to invest. They promised to pay victims with their earnings every 15 days.

Fueled by the worldwide Bitcoin hype, more and more people were baited by the Ordonio couple's promises.

The complaints started piling in when investors lost contact with the Ordonios.
Whats happened  next?
Around 50 angry victims stormed to Camp Crame on Tuesday, asking the couple if they could still get back the money they had hoped would grow.

Will bitcoin be banned because of that?

I don't think the government banned bitcoin in our country because bitcoin is not a scam its the people behind all of this.If only the governments and the people already aware of the advantages that bitcoin brought to the lives of our countrymen then most probably they will see that bitcoin could probably change the lifes of every individual for the better.I think the government would go deeper study on putting regulations to scammers and not bitcoin alone.

[Kemarit]

Over 900 Million  pesos worth of bitcoins been scammed.

Filipino couple amasses at least P900M in alleged Bitcoin scam.
MANILA, Philippines (UPDATED) – Police have nabbed a couple promising easy wealth through popular cryptocurrency Bitcoin, Philippine National Police (PNP) chief Director General Ronald dela Rosa announced on Tuesday, April 10.
Arnel and Leonady Ordonio were nabbed by PNP Criminal Investigation and Detection Group (CIDG) operatives – the police division in charge of high-stakes and high-profile crimes – in Vigan City last April 4 through an entrapment operation.

The scam, Obusan said, is structured like a pyramid scheme but with electronic money.

The Ordonios apparently had middlemen who lured people to invest. They promised to pay victims with their earnings every 15 days.

Fueled by the worldwide Bitcoin hype, more and more people were baited by the Ordonio couple's promises.

The complaints started piling in when investors lost contact with the Ordonios.
Whats happened  next?
Around 50 angry victims stormed to Camp Crame on Tuesday, asking the couple if they could still get back the money they had hoped would grow.

Will bitcoin be banned because of that?

I don't think the government banned bitcoin in our country because bitcoin is not a scam its the people behind all of this.If only the governments and the people already aware of the advantages that bitcoin brought to the lives of our countrymen then most probably they will see that bitcoin could probably change the lifes of every individual for the better.I think the government would go deeper study on putting regulations to scammers and not bitcoin alone.

But the scam that was pulled off really makes headline in the Philippines and the government might have to really take a look at their policy. They have been reminding the population though about making investments but I guess people are so adamant and the minute they see big returns being promised by those scammers, they would easily put all their money on them. Sadly though a lot of investors have lost and I hope that the scammers will suffer long and hard and agonizing pain in the jail for a long time. But I still think the government will still be crypto friendly despite this negative news, one factor I see is that there are a lot of Filipinos working oversees and they can take advantage of crypto currency to send remittances back home using local exchanges like coins.ph.

[Kamote_1102]

I hope not. We should all understand that it's not Bitcoin's fault. It's the people who used Bitcoin to their evil schemes. I know it's lesson learned to all the Filipinos who has been scammed and I hope they can still get the money back. But, instead of Banning the Bitcoin, jail those scammers and teach every Filipinos how they will invest "safely" in Bitcoin.

[Sled]

I don't think that they will banned bitcoin from the country of Philippines because the last time that i read and saw some news from articles they stated that bitcoin is being regulated in that country and their authorities are doing a research or study about it and they are still telling people that they should not put a lot of money into it because it is a very risky investment.

[DREWSKIE]

This news may have caused alarm to those who are not familiar with Bitcoin and how it works.  Technically, the problem does not lie to Bitcoin, but the people who used it as an opportunity to take advantage of the popularity of it. There are lots of scams reported in the Philippines like: Card Skimming and ATM fraud, Bullet in bag, Money Changer Scam.. and a lot more. The point is, banning Bitcoin is not a solution to solve the problem especially if there are people who legitimately earn money from Bitcoin. These scammers find ways to swindle for money and the least we could do is to be more vigilant and educate ourselves before dealing with investments.
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[labs0918]

Over 900 Million  pesos worth of bitcoins been scammed.

Filipino couple amasses at least P900M in alleged Bitcoin scam.
MANILA, Philippines (UPDATED) – Police have nabbed a couple promising easy wealth through popular cryptocurrency Bitcoin, Philippine National Police (PNP) chief Director General Ronald dela Rosa announced on Tuesday, April 10.
Arnel and Leonady Ordonio were nabbed by PNP Criminal Investigation and Detection Group (CIDG) operatives – the police division in charge of high-stakes and high-profile crimes – in Vigan City last April 4 through an entrapment operation.

The scam, Obusan said, is structured like a pyramid scheme but with electronic money.

The Ordonios apparently had middlemen who lured people to invest. They promised to pay victims with their earnings every 15 days.

Fueled by the worldwide Bitcoin hype, more and more people were baited by the Ordonio couple's promises.

The complaints started piling in when investors lost contact with the Ordonios.
Whats happened  next?
Around 50 angry victims stormed to Camp Crame on Tuesday, asking the couple if they could still get back the money they had hoped would grow.

Will bitcoin be banned because of that?

I don't think so because it depends if you invest or not. They are lot of bitcoin mining and there is a safe way too. Not all bitcoin ate scam. So, be knowledgeable in investing. If you wanted to earn even you're not investing in bitcoin, it is possible. Join in bounty campaigns.

[charlemagne_15]

Over 900 Million  pesos worth of bitcoins been scammed.

Filipino couple amasses at least P900M in alleged Bitcoin scam.
MANILA, Philippines (UPDATED) – Police have nabbed a couple promising easy wealth through popular cryptocurrency Bitcoin, Philippine National Police (PNP) chief Director General Ronald dela Rosa announced on Tuesday, April 10.
Arnel and Leonady Ordonio were nabbed by PNP Criminal Investigation and Detection Group (CIDG) operatives – the police division in charge of high-stakes and high-profile crimes – in Vigan City last April 4 through an entrapment operation.

The scam, Obusan said, is structured like a pyramid scheme but with electronic money.

The Ordonios apparently had middlemen who lured people to invest. They promised to pay victims with their earnings every 15 days.

Fueled by the worldwide Bitcoin hype, more and more people were baited by the Ordonio couple's promises.

The complaints started piling in when investors lost contact with the Ordonios.
Whats happened  next?
Around 50 angry victims stormed to Camp Crame on Tuesday, asking the couple if they could still get back the money they had hoped would grow.

Will bitcoin be banned because of that?

Well, that news was circulated in media for some days and have caused alarm to those who are not familiar in bitcoin. When I first watched it, the news was failed to make me shock due to I know that some users of bitcoin do some bad things like scamming the money that people earned and work so hard. Bacause of this news, I think there is a huge probability that the Philippine government will definitely banned the bitcoin. They will see it as a threat to the Filipinos and even to them. Also, a lot of bad rumors about bitcoin is spreading. It just added to reasons why they should ban it.

[Rubble898zaitO]

I don't think BTC will be banned in the Philippines. Sure, it may have been used to scam some people but it may not lead to BTC being banned. At worst, the government will do all sorts of attempts to regulate it or on the flip side, launch some sort of black propaganda to discourage people from getting into it. For the moment, it's anyone's guess.  Personally, I hope it doesn't get banned.

[TiffanyLien23]

Well if that could be happen in the Philippines that would be a great disaster to the Filipinos. The country is a financially wretched one with some of its citizens barely trying to survive of this new found oxygen - Bitcoin. A ban would even mean nitcointa losing some of the Filipinos here. Yes, I know some people believe their contributions on the forums aren't worthwhile but we still have some thriving posters from that country. And most of the Filipinos like me still depending on bitcoin as a source of my income.